Most of our listeners will know what a 401K and IRA are. If you're interested in alternative investments, you've likely been frustrated that they're hard to own in a retirement account. Maybe this led you to a self-directed IRA.
Well, Congress has proposed changes to the laws governing IRAs as part of their $3.5 trillion reconciliation package. In its current form, their proposal would prohibit IRAs from investing in most alternative assets. All accounts holding these assets would need to liquidate them by the end of 2023. These changes, if enacted into law, would have a direct negative impact on your ability to self-direct your IRA!
Damion goes over what's changing and some potential moves you can make to keep investing in alternative investments in your retirement account. Damion Lupo on Retirement accounts, Enjoy!
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Show Notes
0:00:00 Welcome and context
0:03:07 What is your background?
0:05:36 Not being afraid of failure
0:09:25 How are you helping people to open up their eyes?
0:14:30 What is a self-directed IRA?
0:16:41 Where is this reconciliation package going?
0:20:04 What can people do to block this bill?
0:22:30 What should you do with your non publicly traded assets?
0:27:25 What are the concerns for people that look to do this?
0:30:00 How were people using the mega back door?
0:32:10 Have you thought of other potential honeypots?
0:40:01 Where can people find out more about you?
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